Local currency maintains stable tone last week

The local currency maintained stable tone against the green back during the week of June 15 to June 19 last. The foreign exchange reserve of the country crossed $ 21 billion mark. The market will see the same tone next week as well.

The average daily inter-bank USD/BDT transaction volume was about $ 29.32 million against around $ 32.34 million of the week before.

Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.80-78.30, while USD buying rates from exporters were at 76.80-77.30. For non-commercial payments such as Tele Graphic Transfer as donations, wage earners remittance, dollar drafts etc, the average T.T buying rate was in the range of 76.80-77.30 while average T.T selling rate was at 78.0388 on the last working day.

USD/BDT swap market last week was very much active. The daily average volume of swap transaction was around $ 55.00 million.

The local call money market traded around 5.75 per cent. The Central Bank supported commercial banks through Repo and Reverse Repo windows. Bangladesh Bank accepted 91-day T-Bill and 364-day T-Bill. The cutoff yield of 91-day was 6.95 per cent and 364-day was 8.00 per cent.

     — Commercial Bank of Ceylon PLC